Author: Arabian Media staff
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.It isn’t the easiest time to be a green industrial start-up in Europe. The sudden collapse into bankruptcy of Northvolt, Europe’s best-funded start-up and its big hope for battery manufacturing, has in recent months cast a huge shadow over the sector, causing investors, customers and governments to rethink their commitment. All the while, Chinese competition stands in the wings ready to take advantage.It is certainly not the easiest backdrop for a company started by the same Swedish investment group as Northvolt and…
Hello from Yifan in California, your #techasia host this week.I’ve been thinking a lot about the future of my job ever since Google’s I/O event in May, where the US tech giant laid out an ambitious plan to define what search will look like in the future.Some users in the US may have already seen the rollout of AI mode, a new segment on the search page that directs them to a ChatGPT-like interface where an AI assistant provides the answers they were looking for. Google is actively nudging users to try out this new mode of search, and it’s…
Image credit: Getty Images Gold prices gained on Thursday, June 19, as the Iran-Israel tension entered its seventh day, while platinum rose to a more than 10-year high on expectations of a supply shortfall. Spot gold was up 0.1 per cent at $3,371.15 an ounce, as of 0526 GMT. US gold futures fell 0.6 per cent to $3,388.60. Read-Gold gains as Israel-Iran crisis lifts safe-haven appeal “Gold has made a modest bounce as we await the next steps in the Israel-Iran conflict. If the US does decide to get directly involved, this could raise the geopolitical stakes,” KCM Trade Chief…
Stay informed with free updatesSimply sign up to the Pensions industry myFT Digest — delivered directly to your inbox.Scottish Widows, one of Britain’s largest pension providers, is preparing to significantly reduce its allocation to UK equities just as the government is pushing retirement funds to invest more in British companies. The group, which manages £72bn of workplace pension assets in its default funds, is planning to cut the allocation to UK equities in its highest growth portfolio from 12 per cent to 3 per cent, according to a document seen by the Financial Times. Scottish Widows said in a separate document explaining…
Image: Dubai Media Office The Executive Council of Dubai has approved the launch of the ‘Dubai Orchestra’ to enhance the emirate’s global cultural profile and expanding opportunities for Emirati and international talent in the arts sector. The project was approved under the directives of Sheikh Hamdan bin Mohammed bin Rashid Al Maktoum, Crown Prince of Dubai, Deputy Prime Minister, Minister of Defence, and Chairman of The Executive Council of Dubai. “Art is a universal language that connects people, and Dubai is a hub for initiatives that build bridges between cultures and celebrate creativity,” said Sheikh Hamdan. “We continue to support…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.Goldman Sachs is back in the Spac game. According to Bloomberg, the Wall Street leader is returning to the business of blank-cheque deals three years after beating a hasty retreat from the market. The bank will reportedly be taking a de-Spac-ito approach, vetting deals on a case-by-case basis and limiting the sponsors it partners with. But this news sends a clear signal, and where Goldman leads, rivals are likely to follow.Not long ago, major investment banks had sworn off Spacs, spooked by…
Stay informed with free updatesSimply sign up to the Renewable energy myFT Digest — delivered directly to your inbox.The US clean energy sector is facing a wave of collapses as Congress weighs a spending bill that would gut clean energy tax credits that have kept the industry afloat. Two major companies, residential solar provider Sunnova and financing firm Mosaic, filed for bankruptcy this month, with Sunnova citing “uncertainty over the nation’s commitment” to solar power as a factor in its failure. The two companies are among the largest casualties in the sector since Donald Trump took office. Reality is sinking…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.The Boeing Dreamliner jet in last week’s deadly Air India crash had a “clean history” and two recently serviced engines, the airline’s chair has said, as an investigation into the country’s worst air disaster in almost three decades gets under way.N Chandrasekaran, who is also chair of the carrier’s owner, Tata Group, pushed back on “speculations” about what caused the London-bound flight to crash a minute after take-off in Ahmedabad last Thursday, adding that preliminary results from an investigation could take a month.“There…
Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.This article is an on-site version of our Unhedged newsletter. Premium subscribers can sign up here to get the newsletter delivered every weekday. Standard subscribers can upgrade to Premium here, or explore all FT newslettersGood morning. New estimates from the Congressional Budget Office showed the Republican’s “big, beautiful bill” would add more to the US deficit than expected. The bill is now believed to add $2.8tn to the US deficit over the next decade; the previous estimate was $2.4tn. The bill is…
One thing to start: The family that owns the Los Angeles Lakers is closing in on a deal to sell its majority stake in the National Basketball Association team to Guggenheim Partners chief executive Mark Walter at a valuation of about $10bn, which would be the largest-ever sale of a sports team.A scoop: NatWest has ruled itself out of bidding for UK high-street bank TSB, eliminating one of the leading contenders from a sale process that had been expected to draw interest from some of the country’s largest lenders.And a final thing: Microsoft is prepared to walk away from high-stakes…